This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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Forum LockedAdvice on debt reduction please!

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jacke View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jacke Quote  Post ReplyReply Direct Link To This Post Topic: Advice on debt reduction please!
    Posted: 31/March/2005 at 8:38pm
Hi everyone, quick question; just because I do qualify for debt recuction, SHOULD I apply for it?  I am not talking  on an "ethical economic and societal duty" standpoint, but I mean will it have a detrimental effect on my credit; will the banks look upon me as some pariah?  They have already hurt my credit somewhat by falsely reporting late payments.  How does it appear on my credit report?  Any ideas?  Thanks!!!
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nago View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nago Quote  Post ReplyReply Direct Link To This Post Posted: 31/March/2005 at 11:37pm
yes at least try


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momof2 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 01/April/2005 at 7:39am

applying for and receiving debt reduction should have no affect on your credit rating whatsoever.  indeed, it should halp since getting your loan reduced will decrease the amount owing and your expected montly payments thus making it easier for you to repay the loan in full.

apply and take it gratefully, many of us have to jump through hoops only to be denied and are forced into default as a result.

professionals built the titanic but amateurs built the ark...
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